Skills shortages keep wage growth strong, says BCC
Seven Leeds organisations get £25k innovation-boosting grants from City Council
- GreenTech Gathering, four full-day workshops that will provide green technology businesses with expert insight in areas such as investor readiness and brand strategy. The sessions will be delivered with support from madeby.studio, Sustainable Ventures, Bruntwood SciTech and Optimo;
- A programme of mentoring, workshops and public speaking opportunities – delivered by FinTech North – that will help aspiring entrepreneurs and future business leaders develop their pitching and presenting skills;
- The Brand Lab, which will see creative design studio Buttercrumble running a series of workshops focused on how tech organisations can connect with target audiences through the use of techniques such as visual storytelling and inclusive communication;
- Athena VC Elevate, a venture capital-focused programme – being run by Lifted Ventures – that will aim to give business founders the tools and knowledge they need to achieve rapid growth and long-term success;
- A programme of business support – including grant-writing assistance and one-to-one mentoring – delivered by Quick Labs, a science innovation hub that provides affordable, fully-equipped laboratory space for early-stage tech start-ups;
- Global Innovators, a project designed to help innovative businesses better understand – and realise – their international growth potential. The programme will be delivered by Creaticity, Synhrgy and Investor Ladder;
- AI 360 Leeds, an AI Tech UK business support programme that will give start-ups, entrepreneurs and others the chance to find out more about artificial intelligence strategies and how they can be used to power growth.
CMA provisionally clears Boparan’s purchase of ForFarmers feed mills
“We’re now seeking feedback and views on our interim report before reaching a final decision.”
British Steel to host suicide awareness event
Funding package backs West Yorkshire joinery firm MBO
West Yorkshire-based bespoke joinery manufacturer Design and Display is poised to expand into new markets and create new jobs following a change in ownership.
HSBC UK has provided a seven-figure funding package to support the management buyout as current MD Jon Worsnop takes a 91% stake in the business.
Specialising in the designing and manufacturing quality bespoke interiors, the business is now targeting further growth, aiming for £12 million in revenue over the next two years through expansion into the student accommodation and hotel markets.
With a current workforce of 53, Design and Display Limited plans to create further positions on the warehouse floor, bringing the total to 65 employees at its purpose built 80,000 sq ft facility.
Following on from the completion of the MBO, the business will enhance its service offering with the capability of product installation onsite.
Jon Worsnop said: “The ownership transition will enable us to be better prepared and positioned for future growth as market demands and our service offering evolves. Since starting this journey in 2020,transforming the business into a profitable operation has been hugely rewarding. And, with HSBC UK’s support, I’m thrilled to embarking on the next chapter as majority stakeholder.”
With an establish presence in the retail and residential marketplace, Design and Display Limited currently serves a diverse clientele, including notable names such as Dunelm and Berkeley Homes, as well as projects like the 12 Trees Park housing estate in London.
1 East Parade nears full occupancy with new A&M lease
Alvarez & Marsal (A&M), a professional services firm, has secured a 10-year lease for 6,513 sq ft on the sixth floor of 1 East Parade in Leeds. JLL arranged the deal with The Future Workplace Property Unit Trust (Schroders Capital), the building’s landlord.
The office building, which has undergone significant refurbishment, offers a total of 52,990 sq ft of modern office space across its eight floors. Following this lease agreement, only 1,442 sq ft of space remains available for rent.
Toby Nield, director at Savills in Leeds, noted that A&M’s decision to relocate to 1 East Parade highlights the demand for premium office space in central business districts, emphasising the building’s high-quality renovations and strategic location.
£64 million boost for cultural projects across the UK, including Leeds
The UK Government has allocated over £60 million to nine cultural projects across England, Wales, and Scotland to drive local economic growth, create jobs, and enhance cultural offerings. One of the standout initiatives is the £5 million funding for Leeds, which will renovate a Grade II listed building to house the National Poetry Centre. This project will transform the space into a national headquarters for poetry, promoting the arts and providing a dedicated venue for poetry events and activities.
Other notable recipients include the National Railway Museum in York, which will receive £15 million for a new building and visitor facilities, and Liverpool’s International Slavery Museum and Maritime Museum, which will get £10 million to expand and maintain their collections. Coventry will also benefit from a £5 million investment to repurpose a former Ikea building into a cultural hub.
The Victoria and Albert Museum in Dundee will also receive £2.6 million to revamp its Scottish Design Galleries, and Worcester will receive £2.3 million to develop new cultural spaces.
These projects are expected to enhance cultural infrastructure, attract tourism, and create local jobs, contributing to regional economic growth.
Financial concerns over £4.4m loans to council-owned firm
East Lindsey District Council faces scrutiny over a series of loans totaling £4.4 million made to a company it established to manage local services. Currently, only £521,828 has been repaid, raising concerns about the financial health of Invest East Lindsey, the company in question.
In an internal council report, KPMG, the council’s external auditors, flagged “significant weaknesses” in the company’s management. The company reported a loss of £474,000 for the year ending March 2024.
Council leader Craig Leyland acknowledged that the loans were renegotiated due to factors like interest rate hikes following the Liz Truss government’s budget. He remains confident the loans will be repaid in full with interest.
However, opposition leader Jill Makinson-Sanders criticised the situation, stating that the council had failed to protect taxpayers’ interests adequately. During a recent audit and governance committee meeting, she expressed disappointment at the problem’s handling.
Grimsby’s new business hive set to boost town centre’s economic revitalisation
The Business Hive at St James’ House in Grimsby Town Centre is set to become a key player in the area’s business landscape. Phase one of the building is nearly ready for a spring opening, and five businesses have already secured spaces. The ground floor is fully let.
The Business Hive is part of a broader initiative to revitalise Grimsby’s town centre. Other major projects include the Freshney Place Leisure, Foodhall & Market scheme, a new youth zone, residential development at Alexandra Dock, and a new diagnostic centre. These projects are expected to attract more foot traffic and create a thriving hub for business and industry.
Funded by a £1.5 million Towns Fund grant, the renovation of St James’ House will provide a variety of spaces for businesses. Phase one includes a café and business space for the NSPCC and office space for 18 small businesses, five of which are already occupied. The second floor will feature a business hub and event space, while the top floor will offer a professional office space, with plans for a rooftop events terrace. The E-Factor team, which supports over 300 members, expects the space to be a hub for business gatherings and collaboration.
West Yorkshire pension fund expands into natural capital with £27 million investment
The West Yorkshire Pension Fund (WYPF) is expanding its natural capital investments with a £27 million equity stake in Foresight Natural Capital. This move follows the growing trend of pension funds investing in forestry as a stable, inflation-resistant asset but extends to broader natural capital opportunities, including biodiversity projects, peatland restoration, and sustainable agriculture.
WYPF, which manages £19 billion in assets, sees natural capital as a key part of its alternatives strategy, which now makes up nearly 20% of its portfolio. Sustainable agriculture has gained attention due to its ability to support ecosystem health, enhance soil quality, and reduce carbon emissions, all of which contribute to long-term resilience and economic sustainability. However, Ward notes that transitioning to regenerative agriculture involves risks such as yield uncertainty, which can deter some investors.
In addition, WYPF’s investment in Rebalance Earth, which focuses on nature-based infrastructure solutions for climate change, highlights a new approach to climate resilience. This sector, traditionally funded by public and philanthropic sources, is now attracting institutional capital. Rebalance Earth uses innovative revenue models, such as Nature-as-a-Service (NaaS) contracts, to offer predictable cash flows while addressing sustainability challenges.
Both investments reflect WYPF’s strategy to target emerging natural capital markets and align with global sustainability goals, despite challenges in quantifying returns and impact in these evolving sectors.
